Egypt nationalised the Suez Canal in 1956 prompting Britain, France and Israel, to invade

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http://af.reuters.com/article/commoditiesNews/idAFLDE70Q1VB20110127

RPT-FACTBOX-The Suez Canal
Thu Jan 27, 2011 6:28pm GMT

Egypt nationalised the canal in 1956, prompting shareholders Britain and France, along with Israel, to invade. The "Suez Crisis" only ended after Egypt sank 40 ships in the canal and the United States, Soviet Union and United Nations intervened, forcing Britain, France and Israel to withdraw. Continued...

The state-owned Suez Canal Authority (SCA) was established in July 1956 and runs the waterway.

SHIPPING DETAILS:

The 192-km (120-mile) Suez Canal is the quickest sea route between Asia and Europe.

-- The canal is one of seven geographic choke points identified by the U.S-based Energy Information Administration (EIA). These narrow channels are critically important to the world oil trade and are also susceptible to blockages or pirate attacks.

-- About 8 percent of the world seaborne trade passed through the Suez Canal in 2009.